Good News: The Deficit is Falling

Doomsayers at various investment conferences, including FreedomFest, have been predicting “the end of America” and massive deficits in the United States. But so far, they have been dead wrong.

Deficits have been shrinking since 2009, when we hit the bottom of the Great Recession (see the chart below). Indeed, the U.S. deficit now is under $500 billion a year, less than 3% of gross domestic product (GDP).